Omaha daily bee., 1887-08-31
The SPECULATIVE MARKETS.
A Large Amount Of Business Transacted in
the Wheat Pit.
CORN VALUES RANGE LOWER.
Trading in Oats Active at a shade
Weaker Prices-More Doing
In Provisions General
Market Quot ations.
CHICAGoPRODUCE MARKET.

CHICAGO, August SO.-lSpecal Telegram
to the BEE. About 10000 quarters-1,2 20O,-
600 bushels of California wheat-were bought
In Liverpool to-day on q basis of Is per
GENITAL. or about Sc per bushel. This is about
equivalent TO &c for No. spring In this
market Wheat found a ready sale at that
figure, however, and buyers proceeded to
hedge by selling against property In this
market Several houses having foreign con-
nections were In the pit to-day with selling
orders of considerable consequence. For
eigners were also active in New York. The
market stood up surprisingly we'll. Then
came disQuieting rumors about the probable
posting of that much talked of
"stump tail' wheat. New York had the first
news that 5O0UO0 bushels had been posted,
and then that 200, 900 bushels was going to
be posted" Nobody here knew anything
about II, but IL the committee which is in
vestigating wheat should report in favor of
such action this afternoon this disturbing
element would be removed, speculative stock
In store here would be materially
lightened and the gosslps would have to
hunt up something else to worry about If
such action is not taken 1t will be because
wheat Is in good condition. The "stump-
tair' sensation depressed September wheat
quotations were relatively S0l+c lower for
September than the rest of the list. There
was large trade in wheat to-day. 1t was the
biggest day for month. September opened
at 6S16c, sold down to 6s4c and closed at
6S4c. October opened at 70Ac, ranged at
70H@7Ossc high and 7Oc low, closing at 701sc.
December opened at 73H@73ssc, ranged at
H1t@731Sc and closed at 7S1c. The feeling
throughout WAS nervous, but not particu-
larly weak. Wheat has many influential
friends who expect to see a decided bull mar
ket as soon as the bankrupt California stocks
are worked of. AS compared with yester-
days closing, prices show loss of 1sG5sc.
Corn opened steady at a somewhat lower
4o,Sc, October at 4l}ac and May. at 44ssc.
Outside speculative inquiry and demand to
Values then gave way, and decline Of 1te9
Nc occurred, September going from 4O%c to
~ &c, October from 4lss941slc to 4l1sc and
May from 447s@45c to .44asc. Toward the
closing at 40s6c October at 4l1l34lssc and
May at 441S(d45c. Inquiry for May was
more general than for other deliveries. and
throughout the session 1t was relatively the
strongest closing at the outside price of the
day, other months leaving off within 49ssc
Of the top, and &c lower than yesterday.
Trading was on scale of moderate activity.
Trading In oats was fairly active at a
cash values and weakness in corn having a
depressing effect upon the speculative mar
kets. Changing over trades again constitu-
TED good share Of the days business, the
difference being l@11sc between September
and October and 6Ac between September
and May.
In the provision pit there was more doing
and also better feeling. Cash lard was
taken freely on refining and shipping &C
count al the ruling price for September to
2hc higher and for cash meats of all descrip.
tions full former prices were demanded and
when sales were made paid. Speculative
trade also exhibited better undertone and
for July pork and short ribs an advance
amounting to INC was established. for Sep
tomber short ribs &c and for October short
ribs 10c. The last named article was particu-
larly strong ana while changes of short ribs
from September to October were effected
early at the same price, October commanded
later premium of 2hQ05c. Future lard was
held steady throughout at yesterdays prices,
September closing at $685. bid and January
at $3.50. For September short ribs the clos
ing buying price was $7.95, and for October
$7.87x. Short ribs ranged for September at
s7.9oa7.971s and for October at S7.so@s.oO.
January closed at Sl2.321 for pork, $3.50 for
lard and $632h for short ribs,